From: EWyatt794@aol.com
Date: Tue Apr 27 1999 - 11:33:47 MDT
I think this is very important. The fight isn't over yet.
William
> I'm participating in an Internet campaign to repeal regulations from the
> federal government which will force your bank to spy on you, and I'd like
> to invite you to join me.
>
> Please forward this message to any friends, family, co-workers,
> neighbors, or other people you know who may be interested, then go
> to http://www.defendyourprivacy.com and sign the petition. It will be
> submitted directly to your Representative in the U.S. House. Plus, a copy
> will be sent to both your U.S. Senators.
>
> In December 1998, the Federal Deposit Insurance Corporation (FDIC) proposed
> a so-called "Know Your Customer" rule. If enacted, Know Your Customer would
> have required banks to monitor your checking and savings account, and
> report any "unusual transactions" to the federal government. This
> frightening threat to your financial privacy would have forced your bank
> to:
>
> * Discover your source of funds
>
> * Determine your "normal and expected transactions"
>
> * Report any "suspicious activity" to federal investigators
>
> However, in the face of overwhelming public opposition, generated in large
> part by an Internet campaign like this one, the FDIC withdrew their
> proposed Know Your Customer regulation. However, the battle isn't over yet.
>
> It turns out that the Federal Reserve's "Bank Secrecy Act Compliance
> Manual" pressures banks to develop policies similar to Know Your Customer,
> policies that over 88% of banks have begun to implement. After the heat
> dies down, the Federal Reserve Board plans to repackage Know Your Customer
> as "policy guidelines" instead of "regulations".
>
> The government claims it is trying to thwart money launderers and drug
> dealers. But what this law does is turn every bank teller into a government
> informer and everyone with a bank account into a criminal suspect.
>
> In a free society, the government has no business asking where you get your
> money or how you spend it -- and politicians have no right to force your
> bank to monitor your account. Know Your Customer doesn't need to be
> "repackaged" -- it needs to be repealed.
>
> Congressman Ron Paul has introduced the Know Your Customer Sunset Act (HR
> 516) and the Bank Secrecy Sunset Act (HR 518) that together will repeal
> existing Know Your Customer reporting requirements, and prevent any new KYC
> rules from being implemented. Together, these two bills will guarantee that
> our financial privacy will be respected.
>
> Over 250,000 outraged Americans flooded the FDIC with e-mails, letters, and
> faxes during Know Your Customer Round One -- and the FDIC backed down! Now
> we need to make sure Congress finishes the job by passing HR 516 & HR 518.
>
> Let's keep up the pressure!
>
> Please forward this e-mail to everyone you know who might be interested in
> helping. But please don't send it indiscriminately -- spam will only hurt
> our campaign.
>
> Then go to http://www.DefendYourPrivacy.com and sign the
> petition. Thank you.
attached mail follows:
* List: objectivism@floobin.cx
One of the few good guys in Congress is trying to repeal some "Know Your
Customer" laws and has an online petition. Check this out.
<ctrl-alt-b!>
rafuzo@bu.edu
"Let's have a moment of silence to honor me for my brilliant work despite
being surrounded by dolts."
-- Dogbert
Intaxication: The euphoria at receiving a refund check from the IRS, which
lasts until you realize it was your money to begin with.
---------- Forwarded message ----------
Date: Tue, 27 Apr 1999 01:14:52 -0700 (PDT)
From: List Manager <ListManager@DefendYourPrivacy.com>
To: rafuzo@bu.edu
Subject: URGENT: New online petition for privacy!
URGENT: New petition for privacy now online!
* * * * * * * * * * * * * * * * * * * * * * * * * *
You are receiving this URGENT BULLETIN because
you registered at the DefendYourPrivacy.com
web site and asked us to keep you informed. To
remove yourself from our list, simply hit REPLY and
put the word "unsubscribe" in the SUBJECT field.
* * * * * * * * * * * * * * * * * * * * * * * * * *
Our online campaign against the FDIC's proposed "Know Your Customer"
rule was an incredible success! More than 250,000 public comments
were filed against this assault on financial privacy -- enough to
stop it dead in its tracks.
And, more than two-thirds of those comments were generated via
http://www.DefendYourPrivacy.com. Thank you!
However, the battle isn't over yet. As you probably have already
discovered, the Federal Reserve's Bank Secrecy Act Compliance Manual
pressures banks to develop policies similar to Know Your Customer --
policies that over 88% of banks have begun to implement. After the heat
dies down, the Federal Reserve Board hopes that they can simply repackage
Know Your Customer as "policy guidelines" instead of "regulations".
We can't allow this to happen.
Congressman Ron Paul has introduced two bills that would put an end to
Know Your Customer once and for all:
* The Know Your Customer Sunset Act (HR 516), which would prohibit Federal
Banking agencies like the FDIC from implementing any form of Know Your
Customer regulation. It already has over 50 cosponsors.
* The Bank Secrecy Sunset Act (HR 518), which would sunset the reporting
requirements of the Bank Secrecy Act -- the underlying legal authority for
Know Your Customer regulations.
.
If enough Representatives cosponsor these bills, Congress will be forced to
schedule public hearings. Given the broad-based opposition to Know Your
Customer, there is a real chance of enacting at least one of the bills into
law -- if we act now!
We've launched a new online petition at http://www.DefendYourPrivacy.com to
help build public opposition to Know Your Customer and pressure members of
Congress to cosponsor HR 516 and HR 518. Like before, people who visit the
site can sign an email petition, which will be immediately sent to their
U.S. Representative, and their two U.S. Senators.
They can also get additional information about Know Your Customer, The Bank
Secrecy Act, HR 516, and HR 518; arrange to forward copies of the letter
below to their friends and family; and read press releases and news
articles about the regulation and the growing campaign to repeal it.
We need you to do two things right now to make this campaign a success, and
persuade members of Congress to cosponsor HR 516 and HR 518:
1) Please visit http://www.DefendYourPrivacy.com and sign the petition.
2) Forward the letter below to your friends and family. By triggering a
chain reaction on this issue, we can generate hundreds of thousands of
emails to Congress, and repeal Know Your Customer once and for all.
While it is important that you forward this letter to anyone who might be
interested, it is also important that we not engage in indiscriminate
spamming. If at all possible, please address each message to the individual
you're sending it to and put your name on it.
Thank you for participating!
- - - - PLEASE SEND THE MESSAGE BELOW TO YOUR FRIENDS - - - - - - -
I'm participating in an Internet campaign to repeal regulations from the
federal government which will force your bank to spy on you, and I'd like
to invite you to join me.
Please forward this message to any friends, family, co-workers,
neighbors, or other people you know who may be interested, then go
to http://www.defendyourprivacy.com and sign the petition. It will be
submitted directly to your Representative in the U.S. House. Plus, a copy
will be sent to both your U.S. Senators.
In December 1998, the Federal Deposit Insurance Corporation (FDIC) proposed
a so-called "Know Your Customer" rule. If enacted, Know Your Customer would
have required banks to monitor your checking and savings account, and
report any "unusual transactions" to the federal government. This
frightening threat to your financial privacy would have forced your bank
to:
* Discover your source of funds
* Determine your "normal and expected transactions"
* Report any "suspicious activity" to federal investigators
However, in the face of overwhelming public opposition, generated in large
part by an Internet campaign like this one, the FDIC withdrew their
proposed Know Your Customer regulation. However, the battle isn't over yet.
It turns out that the Federal Reserve's "Bank Secrecy Act Compliance
Manual" pressures banks to develop policies similar to Know Your Customer,
policies that over 88% of banks have begun to implement. After the heat
dies down, the Federal Reserve Board plans to repackage Know Your Customer
as "policy guidelines" instead of "regulations".
The government claims it is trying to thwart money launderers and drug
dealers. But what this law does is turn every bank teller into a government
informer and everyone with a bank account into a criminal suspect.
In a free society, the government has no business asking where you get your
money or how you spend it -- and politicians have no right to force your
bank to monitor your account. Know Your Customer doesn't need to be
"repackaged" -- it needs to be repealed.
Congressman Ron Paul has introduced the Know Your Customer Sunset Act (HR
516) and the Bank Secrecy Sunset Act (HR 518) that together will repeal
existing Know Your Customer reporting requirements, and prevent any new KYC
rules from being implemented. Together, these two bills will guarantee that
our financial privacy will be respected.
Over 250,000 outraged Americans flooded the FDIC with e-mails, letters, and
faxes during Know Your Customer Round One -- and the FDIC backed down! Now
we need to make sure Congress finishes the job by passing HR 516 & HR 518.
Let's keep up the pressure!
Please forward this e-mail to everyone you know who might be interested in
helping. But please don't send it indiscriminately -- spam will only hurt
our campaign.
Then go to http://www.DefendYourPrivacy.com and sign the
petition. Thank you.
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